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Free AccessUnable To Overcome 3200 *RES.....>
EUROSTOXX50 TECHS: Unable To Overcome 3200
*RES 4: 3536.87 High Jul 31
*RES 3: 3486.31 High Aug 10
*RES 2: 3452.41 High Sep 27
*RES 1: 3263.72 High Nov 8
*PREVIOUS CLOSE: 3174.16
*SUP 1: 3090.85 Low Oct 26
*SUP 2: 3050.00 Up trendline support from 2012 low
*SUP 3: 2984.48 Low Dec 2 2016
*SUP 4: 2678.27 Low Jul 1 2016
EUROSTOXX broke above their 21-dma yesterday but closed below it as bulls failed
to take out the 3200 level. This keeps the near-term outlook neutral and the
bigger picture bearish trend intact. Bulls target the Nov 8 high at 3263.72,
above here would suggest that a bottom has been established. Bears look to
target the Oct 26 low, below which brings into play key up trendline support
from the 2012 lows.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.